8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report: July 27, 2004
(Date of earliest event reported)

TEMPLE-INLAND INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware	001-08634	75-1903917
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

1300 MoPac Expressway South, Austin, Texas 78746
(Address of Principal Executive Offices)

(512) 434-5800
(Registrant’s telephone number, including area code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

TABLE OF CONTENTS

	Item 7. Exhibits.
	Item 9. Regulation FD Disclosure.
SIGNATURE
EXHIBIT INDEX
Presentation Materials of Chief Executive Officer

Item 7. Exhibits.

     (c) Exhibits.

     99.1  Presentation materials of Kenneth M. Jastrow, II, Chief Executive Officer of Temple-Inland Inc., used in Mr. Jastrow’s conference call on July 27, 2004, discussing the Company’s earnings for the quarter ended July 3, 2004.

Item 9. Regulation FD Disclosure.

     On July 27, 2004, Kenneth M. Jastrow, II, Chief Executive Officer of Temple-Inland Inc., participated in a conference call discussing the Company’s earnings for the quarter ended July 3, 2004. Copies of the presentation materials used by Mr. Jastrow are furnished as exhibit 99.1 of this report.

SIGNATURE

     Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	TEMPLE-INLAND INC.
Date: July 27, 2004	By:	/s/ M. Richard Warner
		Name:	M. Richard Warner
		Title:	President

EXHIBIT INDEX

Exhibit	Description	Page
99.1	Presentation materials of Kenneth M. Jastrow, II, Chief Executive Officer of Temple-Inland Inc., used in Mr. Jastrow’s conference call on July 27, 2004, discussing the Company’s earnings for the quarter ended July 3, 2004.		4

EX-99.1

Exhibit 99.1

Second Quarter 2004 Results July 27, 2004

July 27, 2004 2 This presentation contains forward-looking statements that involve risks and uncertainties. The actual results of Temple-Inland may differ significantly from the results discussed in the forward-looking statements. Factors that might cause such differences include general economic, market, or business conditions; the opportunities (or lack thereof) that may be presented to and pursued by Temple-Inland; the availability and price of raw materials; competitive actions by other companies; changes in laws or regulations; the accuracy of judgments and estimates concerning the integration of acquired operations and Temple-Inland's consolidation and supply chain initiatives; and other factors, many of which are beyond the control of Temple-Inland.

Second Quarter Results Net Income $ 56 $ 156 $ 13 Diluted EPS $ 0.99 $ 2.87 $ 0.24 2nd Qtr 2nd Qtr 1st Qtr 2004 2003 2004 TIN 2nd qtr. 2004 special items - total ($0.06 per share) - Box plant closures & debt prepayment fees - $4 million ($0.07 per share) - Income from discontinued operations - $1 million ($0.01 per share) 2nd qtr. 2003 special items - total ($2.77 per share) - One-time tax benefit - $165 million ($3.05 per share) - Project TIP - $15 million ($0.28 per share) Debt and other long-term liabilities, including timber leases, were reduced by $117 million and cash increased $36 million during the quarter 3

Second Quarter Results (cont'd) Net income per dil. share $ 0.99 $ 2.87 $ 0.24 Special items 0.06 (2.77) 0.20 Net income per dil. share $ 1.05 $ 0.10 $ 0.44 excluding special items 2nd Qtr 2nd Qtr 1st Qtr 2004 2003 2004 4

Second Quarter Segment Results Operating Income (millions) Corrugated Packaging $ 26 $ 7 $ 10 Forest Products $ 65 $ 15 $ 32 Financial Services $ 59 $ 44 $ 53 $ 150 $ 66 $ 95 2nd Qtr 2nd Qtr 1st Qtr 2004 2003 2004 5

Corrugated Packaging Price Average box price down $22/ton vs. 2nd qtr. 2003 but up $4/ton vs. 1st qtr. 2004 2nd Qtr 2nd Qtr 1st Qtr 2004 2003 2004 $ 26 $ 7 $ 10 Operating income (millions) 6

Corrugated Packaging (Cont'd) Volume On a volume per workday basis, shipments up 7.9% in 2nd qtr. 2004 with 4 less box plants compared with 2nd qtr. 2003 and up 7.0% compared to 1st qtr. 2004 levels Industry shipments up 4.2% on a volume per workday basis in 2nd qtr. 2004 compared with 2nd qtr. 2003 and up 4.5% compared with 1st qtr. 2004 7

Corrugated Packaging (Cont'd) OCC OCC prices up $21/ton vs. 2nd qtr. 2003 and up $13/ton vs. 1st qtr. 2004 Energy Energy costs down $1 million vs. 2nd qtr. 2003 and 1st qtr. 2004 Pension - - Pension expense up $2 million vs. 2nd qtr. 2003 8

Forest Products 2nd Qtr 2nd Qtr 1st Qtr 2004 2003 2004 $ 65 $ 15 $ 32 Operating income (millions) Lumber - - Average price up $81 vs. 2nd qtr. 2003 and up $45 vs. 1st qtr. 2004 Volume up 8% vs. 2nd qtr. 2003 but down 1% vs. 1st qtr. 2004 9

Forest Products (Cont'd) Particleboard Average price up $59 vs. 2nd qtr. 2003 and up $37 vs. 1st qtr. 2004 Excluding the Mt. Jewett facility, which was closed in 2nd qtr. 2003, volume up 17% vs. 2nd qtr. 2003 and up 1% vs. 1st qtr. 2004 10

Forest Products (Cont'd) MDF - - Average price up $48 vs. 2nd qtr. 2003, and up $35 vs. 1st qtr. 2004 - - Excluding the Clarion facility, which was closed in 3rd qtr. 2003 and sold during 2nd qtr. 2004, volume up 28% vs. 2nd qtr. 2003, and up 19% vs. 1st qtr. 2004 11

Forest Products (Cont'd) Gypsum - - Average price up $27 vs. 2nd qtr. 2003 and up $9 vs. 1st qtr. 2004 - - Volume up 35% vs. 2nd qtr. 2003 and up 15% vs. 1st qtr. 2004 High-Value Land Sales - - $6 million from high-value land sales in 2nd qtr. 2004 vs. $5 million in 2nd qtr. 2003 and $3 million in 1st qtr. 2004 Average sales price for 2nd qtr. 2004 approximately $7,000 per acre 12

Financial Services Improvement in 2nd qtr. 2004 earnings compared with 2nd qtr. 2003 due to: Increased spreads Revised asset allocation targets designed to increase single-family mortgage assets Lower loan loss provision resulting from improving credit conditions Focus on low cost 2nd Qtr 2nd Qtr 1st Qtr 2004 2003 2004 $ 59 $ 44 $ 53 Operating income (millions) 13

Comments Project TIP (Shared Services and Supply Chain Initiatives) $14 million in savings during 2nd qtr. 2004, representing an annual run rate of $56 million $60 million in annual savings from Project TIP consolidation and supply chain initiatives on schedule to be realized by year end 2004 and on target to achieve $75 million by year end 2005 14

Comments Box Plant Cost Improvement Initiatives - - Headcount Reduction Over 300 positions eliminated in 4th qtr. 2003 resulting in annual savings of $20 million ($5 million in 2nd qtr. 2004) - - Box Plant Closures Savings associated with previous box plant closures were $4 million during 2nd qtr. 2004, representing annual savings of $16 million Raleigh box plant closed during 2nd Qtr. 2004 Louisville, Mishawaka, and Rock Hill box plants to be closed by 3rd qtr. 2004 15